Gift recd by an individual but not showing.
This query is : Resolved
11 September 2014
anyone have idea if an individual recd a gift from non relative and other than marriage occasion and amt exceed from 50000... in which manner, income tax department find out the value of gift while individual didn't show the gift.... and gift recd by him from company for a good performance.
11 September 2014
what gift is rec pls mention that first
11 September 2014
The company will be claiming the gift as expense in the books of accounts and also deducting the tax. If TDS is made it will appear in 26AS.
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